Take ALTA’s Operations Survey for Chance to Win a Free Annual Convention Registration

June 25, 2013

Abstracters and title agents are encouraged to participate in the 2013 Abstracter and Title Agent Operations Survey to assist ALTA in understanding how market changes are impacting membership and to help members benchmark operations.

Please click here to take the survey. You can also download the survey to compile responses before completing the survey online. There are fax instructions in the survey if you prefer to submit a hard copy via fax. Deadline to take the survey is July 15.

This is an update to a survey ALTA has compiled since the 1990s and is not collected for any regulatory body. Demotech Inc., an independent financial analysis organization, is conducting the confidential survey on behalf of ALTA and the industry. All responses will be kept completely anonymous.

Completing the entire survey is important. Please attempt to answer all questions to the best of your knowledge. Please respond to the survey on a statewide basis. If you operate in multiple states please complete a separate survey for each state. Use company data from calendar year 2012 to complete the survey.

“With lenders creating robust risk-management programs to help them monitor their third-party providers, such as title professionals, and the Consumer Financial Protection Bureau expected to finalize its rule for the new mortgage disclosures that will replace the Good Faith Estimate and HUD-1, it’s important agents and abstracters evaluate the current status of their operation,” said Diane Evans, chair of ALTA’s Abstracters and Title Insurance Agents Section Executive Committee. “This survey is a great in helping evaluate the current status of our industry at the agent and abstracter level.”

The survey evaluates specific aspects of the current status of the industry at the agent and abstracter level, curative and loss mitigation efforts, as well as cyber liability insurance. The survey may take approximately 30 minutes to complete due to the information about curative and loss mitigation efforts requested in question 17. If this question is not answered, the survey is expected to take 15 minutes.

Participants will receive a copy of the survey to benchmark operations against industry-wide averages and ratios. Survey results will be available for sale to companies that do not participate.

“Survey results allow you to compare your operations with companies of similar size and scope,” said Dan Mennenoh, chair of ALTA’s Abstracter and Agent Research Committee. “This can help as you analyze your financials to decipher if your operation is running as efficiently as it should.”

Those who take the survey will have the opportunity to win a complimentary registration to ALTA’s 2013 Annual Convention at the Breakers in Palm Beach, Fla.

If you have any questions, please contact Irisa Wasson at Demotech Inc. at 1-800-354-7207 or IWasson@demotech.com.